The AIG Debacle – A Precursor to U.S. Federal Budget Woes

When will we learn?  Will we learn at all?

Fannie Mae, Freddy Mac, and AIG should be a lesson for us all – too much debt can wipe you out in a bad economy.  They needed major infusions of cash to save themselves. 

The United States is currently running a $10 trillion debt.  Who will save the United States if the government cannot pay off its debts?  What will happen to American sovereignty?  Why is the debt not being addressed by the media nor by the presidential candidates.

We need a balanced budget.  The best way to balance the budget is to cut spending.  Abolish or privatize all non-essential government services.  The government will be fine limiting itself to constitutionally essential functions.

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3 Comments

Filed under debt, Election, McCain, media, Obama, policy, spending, Washington

3 responses to “The AIG Debacle – A Precursor to U.S. Federal Budget Woes

  1. Yesterday I was reading an article in Monetary Intelligence Magazine (http://monetaryintel.com) about the Federal Reserve. Like your comment says, precious metals skyrocket. This article was saying of the $1.4 billion of currency that has been introduced into the economy, it isn’t being backed by anything of value, ie: gold or silver. It also said that on the over 9 trillion that the nation owes, the balanace grows at $1.56 BILLION everday as a result of compound interest. We are carrying the debt of the world.

  2. Correct. Ron Paul warned us 2 years ago, but people dismissed him as a loon.

  3. So, the critical verbiage here is” a binding contract with the second-place, or online backup services, service providers. However, by simply investing a small amount of data from two separate devices.

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